Guideline Value for Thamarai Street

Thamarai Street guideline value

The current guideline value of Thamarai Street in Adambakkam village, under the Alandur SRO, is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - III.

How the guideline value of Thamarai Street has changed

The guideline value for Thamarai Street has seen significant changes over the years. In 2002, the value was Rs 319 per sq.ft, which increased to Rs 364 per sq.ft in 2003, marking a 14% rise. The value then rose substantially to Rs 900 per sq.ft in 2007, reflecting a 147% increase. By 2012, the value was Rs 3,500 per sq.ft, showing a remarkable 289% increase from 2007. However, it then decreased by 33% to Rs 2,345 per sq.ft in 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 3,900 per sq.ft, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1,123%. The register has no figures for the years between 2012 and 2017, as well as for 2017 to 2023.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, which is equal to the guideline value of Thamarai Street.

• Thamirabarani Street: Rs 3,900 per sq.ft (2024)
• Thagoor Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 6th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 3rd Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Thamarai Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thamarai Street?

The Sub Registrar Office that covers Thamarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Adambakkam

The guideline value is an essential factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the higher amount between the guideline value and the sale price is considered for calculating the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Thamarai Street?

The current guideline value of Thamarai Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 319 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024. The most notable increase occurred between 2007 and 2012, where it rose from Rs 900 to Rs 3,500 per sq.ft.

What is the land classification of Thamarai Street?

Thamarai Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What is the stamp duty rate for properties in Thamarai Street?

The stamp duty rate for properties in Thamarai Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Thamarai Street?

The Sub Registrar Office for Thamarai Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.